Indian power generator KSK Power Ventur posted strong underlying full-year results for 2011-12, but the dramatic weakening of the rupee against the dollar took some of the shine off the reported figures.
Revenues rose by 69 per cent to $383m (£244m) and operating profit more than doubled to $122m. Financing costs rose from $59m to $161m, of which $49m was due to the weakening currency. Pre-tax profits shrank from $17.5m to $1.2m.
The flagship 3.6 gigawatt (GW) Mahandani power station is on track with the first 600 megawatt unit expected to be commissioned this financial year. Other key opportunities include a 1.98GW thermal coal plant in Orissa and 3GW of hydro projects in Arunachal Pradesh. KSK has also made considerable progress in securing domestic coal supplies for its thermal power projects, which improves profit margins.
